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Real Estate & Property Law

: The Home Equity Theft Reporter

Racial Steering, Bonuses For Referring Prime Borrowers To Subprime Loans Among Accusations By Ex-Wells Fargo Employees In Discriminatory Lending Suit

By r morris

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The New York Times reports:As she describes it, Beth Jacobson and her fellow loan officers at Wells Fargo Bank ?rode the stagecoach from hell? for a decade, systematically singling out blacks in Baltimore and suburban Maryland for high-interest subprime mortgages. These loans, Baltimore officials have claimed in a federal lawsuit against Wells Fargo, tipped hundreds of homeowners into foreclosure

Full post as published by The Home Equity Theft Reporter on June 08, 2009 (boomark / email).

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